EURUSD: With EUR continuing to trade below the 1.1396 level and its major resistance at the 1.1459 zone, our bias remains to the downside. This suggest its upside risk is now limited while maintaining below the 1.1459 level and downside threat remains the immediate bias. On the downside, support lies at the 1.1300 level where a violation will aim at the 1.1250 level. A break of here will turn risk to the 1.1200 level with a move below that level targeting the 1.1150 level. On the upside, resistance is seen at 1.1400 level with a cut through here opening the door for more upside towards the 1.1450 level. Further up, resistance lies at the 1.1500 level where a break will expose the 1.1550 level. All in all, EUR remains biased to the downside below its key resistance.
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Gold price recovers its recent losses, despite a firmer US Dollar
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No obvious macro catalysts to steer the bus
The US data calendar remains relatively light, with initial jobless claims and the University of Michigan survey being the key focus. However, these releases may not provide a significant catalyst for the next directional move in the US Dollar.